Janux Therapeutics (NASDAQ:JANX) Given New $70.00 Price Target at HC Wainwright

Janux Therapeutics (NASDAQ:JANX) had its target price boosted by investment analysts at HC Wainwright from $63.00 to $70.00 in a note issued to investors on Tuesday, Marketbeat reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 4.43% from the stock’s previous close.

Several other research firms have also recently weighed in on JANX. Stifel Nicolaus initiated coverage on Janux Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $70.00 price target for the company. UBS Group started coverage on shares of Janux Therapeutics in a report on Thursday, October 24th. They issued a “buy” rating and a $69.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $100.00 target price on shares of Janux Therapeutics in a report on Thursday, November 7th. Leerink Partnrs upgraded Janux Therapeutics to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Wedbush reissued an “outperform” rating and issued a $74.00 price objective on shares of Janux Therapeutics in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Janux Therapeutics has an average rating of “Buy” and a consensus price target of $72.20.

Janux Therapeutics Trading Up 66.8 %

Shares of NASDAQ JANX opened at $67.03 on Tuesday. The stock has a 50 day simple moving average of $49.81 and a 200-day simple moving average of $45.77. The company has a market cap of $3.52 billion, a PE ratio of -34.34 and a beta of 3.30. Janux Therapeutics has a 12-month low of $7.79 and a 12-month high of $67.03.

Janux Therapeutics (NASDAQ:JANX) last announced its earnings results on Wednesday, November 6th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.18). The company had revenue of $0.44 million for the quarter, compared to the consensus estimate of $1.50 million. Janux Therapeutics had a negative return on equity of 10.47% and a negative net margin of 463.91%. The firm’s revenue for the quarter was down 82.6% on a year-over-year basis. Sell-side analysts forecast that Janux Therapeutics will post -1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Janux Therapeutics

In other news, CEO David Alan Campbell sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $53.54, for a total value of $1,338,500.00. Following the completion of the transaction, the chief executive officer now owns 282,054 shares of the company’s stock, valued at approximately $15,101,171.16. This trade represents a 8.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Ventures Xi L.P. Avalon sold 108,365 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $42.00, for a total value of $4,551,330.00. Following the transaction, the insider now directly owns 3,162,851 shares in the company, valued at approximately $132,839,742. This represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 445,610 shares of company stock worth $20,578,666 over the last quarter. Insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On Janux Therapeutics

A number of large investors have recently added to or reduced their stakes in JANX. Janus Henderson Group PLC lifted its position in Janux Therapeutics by 40.0% during the 3rd quarter. Janus Henderson Group PLC now owns 2,523,406 shares of the company’s stock worth $114,587,000 after buying an additional 721,563 shares in the last quarter. Logos Global Management LP lifted its position in Janux Therapeutics by 400.0% during the second quarter. Logos Global Management LP now owns 750,000 shares of the company’s stock worth $31,418,000 after acquiring an additional 600,000 shares during the last quarter. Vanguard Group Inc. increased its position in Janux Therapeutics by 38.6% during the 1st quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company’s stock worth $51,127,000 after buying an additional 378,477 shares during the period. Point72 Asset Management L.P. grew its position in shares of Janux Therapeutics by 190.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 395,875 shares of the company’s stock worth $17,985,000 after purchasing an additional 259,445 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Janux Therapeutics by 202.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 234,191 shares of the company’s stock valued at $10,639,000 after acquiring an additional 156,675 shares during the period. Institutional investors own 75.39% of the company’s stock.

About Janux Therapeutics

Janux Therapeutics, Inc, a clinical stage biopharmaceutical company, develops immunotherapies based on Tumor Activated T Cell Engagers (TRACTr) and Tumor Activated Immunomodulators (TRACIr) platforms technology to treat patients suffering from cancer. The company's clinical candidates comprise JANX007, a prostate-specific membrane antigen or PSMA-TRACTr, which is in Phase 1 clinical trial in adults for the treatment of metastatic castration-resistant prostate cancer (mCRPC) and the vasculature of other tumors; and JANX008, an epidermal growth factor receptor or EGFR-TRACTr that is in Phase 1 clinical trial for the treatment of multiple solid cancers, including colorectal cancer, squamous cell carcinoma of the head and neck, non-small cell lung cancer, and renal cell carcinoma.